Financing for Independent Artists, Writers, and Performers

With these commercial loans for independent artists, writers, and performers, the SBA guarantees the lender that the loan will be repaid. This independent artists, writers, and performers loan for $430,000 was given to a Tennessee entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Memphis, Tennessee was able to borrow $430,000 from Trustmark National Bank. The SBA made the loan possible by guaranteeing $322,500 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: INDEPENDENT ARTISTS, WRITERS, AND PERFORMERS
MEMPHIS, TN 38168

SBA Loan Lender

TRUSTMARK NATIONAL BANK
106 GOVERNMENT ST
BRANDON, MS 39042

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

711510 - Independent Artists, Writers, and Performers

Loan Approval Date

6/6/2001

Loan Approval Gross Amount

$430,000

Loan Approval from the SBA

Of the total $430,000 loan amount, the SBA guaranteed $322,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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